DES MOINES -- Campaign fundraising from April through June in Iowa's 2026 U.S. Senate election was competitive between some of the top candidates, according to new federal campaign reports filed Tuesday.
But by virtue of her campaign war chest built up over the past five years, Republican incumbent U.S. Sen. Joni Ernst at this point in the cycle holds a hefty financial advantage over all challengers -- should she choose to run for reelection.
Ernst has not yet publicly stated whether she will seek a third, six-year term in the U.S. Senate when her current term ends next year. If she does, she sits on a campaign war chest of more than $3.4 million as of the end of June.
The recently filed quarterly federal campaign fundraising reports cover the months of April through June.
Ernst has far and away the most resources in her campaign account and had the top fundraising performance of the period. She raised nearly $723,000 -- more than any other candidate in the race.
Ernst's campaign did not immediately respond to a request for comment Wednesday.
Most national elections forecasters see Iowa's 2026 U.S. Senate election as likely to remain in Republican hands: Inside Elections and Sabato's Crystal Ball both classify the election outcome as "likely Republican," although the Crystal Ball downgraded its rating one level from "safe Republican" earlier this year; and the Cook Political Report has Iowa as "leans Republican."
Regardless of Ernst's pending decision, Republican former state legislator Jim Carlin also is running in Iowa's U.S. Senate election. Carlin, who announced his candidacy in early June near the end of the quarter, had a comparatively light fundraising period: he raised just shy of $86,000, spent the bulk of it, and finished June with just $711.42 in his campaign account.
Three Iowa Democrats have announced their candidacy and are vying for the party's nomination to challenge Ernst next year: state legislators Zach Wahls of Coralville and J.D. Scholten of Sioux City, and Indianola Chamber of Commerce leader Nathan Sage.
Sage had the best fundraising performance of the three; he also announced his campaign nearly two months before Scholten and Wahls.
Sage, who announced in mid-April, raised more than $709,000 in the quarter. He also spent more than $375,000 and finished June with roughly $334,000 in his account.
Sage's campaign said the more than 28,000 contributions averaged less than $25.
"We're building a grassroots army that is truly one of a kind," Sage said in a news release. "We're rebuilding the Democrats as a working-class party, and we're building a movement that is going to shock the nation next year."
Wahls, who announced June 11, raised roughly $657,000 in the period -- his campaign said it raised more than $400,000 in the first 24 hours after launch -- and spent very little; he finished the period with roughly $626,000 in his account.
Wahls' campaign said more than 8,000 individuals have donated to him from all 99 Iowa counties.
"With unmatched early fundraising, an expanding grassroots network, and a powerful message focused on lowering costs, protecting health care, and standing up to special interests, Zach Wahls is the best-positioned candidate to defeat Joni Ernst and help flip the U.S. Senate," Wahls campaign senior adviser Andy Suchorski said in an email.
Scholten, who announced June 2, raised just roughly $176,000 in the period and finished with roughly $157,000.
Thomas Laen, a Libertarian Party candidate and the Greene County Attorney, raised roughly $2,700 in the quarter and -- because he had resources from previous fundraising -- finished the period with just more than $17,000.